The UAE decides to withdraw from OPEC and OPEC+ effective May 1st

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The UAE decides to withdraw from OPEC and OPEC+ effective May 1st

The United Arab Emirates announced its decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, effective May 1, 2026, according to the Emirates News Agency (WAM).

The statement indicated that this decision aligns with the UAE's long-term strategic and economic vision and the development of its energy sector, including accelerating investment in domestic energy production. It also reinforces the UAE's commitment to its role as a responsible and reliable producer that anticipates the future of global energy markets.

The statement explained that "this decision came after a thorough review of the UAE's production policy and its current and future capacity, and in light of the national interest and the country's commitment to contributing effectively to meeting the market's urgent needs.

 while near-term geopolitical volatility continues due to disruptions in the Arabian Gulf and the Strait of Hormuz, which affect supply dynamics. Fundamental trends indicate continued growth in global energy demand in the medium and long term," according to the agency.

The UAE joined OPEC in 1967 through the Emirate of Abu Dhabi and continued its membership after the establishment of the United Arab Emirates in 1971.

Oil producers in the Gulf region, who are members of OPEC, are finding it difficult to ship their exports through the Strait of Hormuz, a narrow waterway between Iran and Oman that typically carries a fifth of the world's crude oil and liquefied natural gas, due to Iranian threats and attacks on ships.

The statement added that the UAE, after leaving OPEC, will continue its responsible role by gradually and carefully increasing production, in line with demand and market conditions. 

The UAE Energy Minister stated that his country would have greater flexibility given the absence of production quota commitments, adding that "the decision is a sovereign national one based on our strategic and economic vision."